MAS Financial Services Ltd raises ₹360 Crore through NCD from FMO, the Dutch Entrepreneurial Development Bank

MAS Financial Services Limited (MAS Financial) (BSE: 540749, NSE: MASFIN), specialized in MSME financing, is pleased to announce the issuance of Senior Secured, Listed Non-Convertible Debentures (NCDs) amounting to ₹360 Crore to FMO, the Dutch Entrepreneurial Development Bank on Wednesday, 20th May 2026.

The NCDs are listed on BSE Limited (BSE) and have tenure of five years. The funds raised through this issuance will be allocated towards women-owned or women-led SMEs, youth-owned or youth-led SMEs and/or Rural SMEs reflecting MFSL's commitment to serve the underserved segments and contribute to financial inclusion.

Commenting on fundraise, Mr. Kamlesh Gandhi, Founder, Chairman & Managing Director said: "On behalf of Team MAS, I wholeheartedly welcome the debt investment from FMO in MAS Financial Services Limited. We are delighted to once again partner with FMO following their equity investment in 2008, which remained associated with us for nearly a decade until 2017. This investment reflects the trust in our vision and strengthens our commitment to serving the financial needs of underserved segments across the country while capitalizing on opportunities in the hinterlands.

With a legacy spanning over three decades, MAS has remained committed to financial inclusion through its products and services, enabling sustainable livelihoods and employment generation since inception.

This NCD issuance will further diversify our investor base for capital market borrowings and strengthen our liability mix. Backed by proven performance over the last three decades, robust financials, and prudent liability management, we remain committed to diversifying our resource and investor base while targeting sustainable growth of 20%-25%, with continued focus on risk management and profitability."

Team MAS remains committed to its mission of "Excellence through Endeavors." which we now reckon as "PURPOSE LED PROGRESS DRIVEN"

Commenting on fundraise, Huib-Jan de Ruijter, Co-Chief Investment Officer FMO said: "We are pleased to partner with MAS Financial Services once again to expand access to finance for underserved segments across India. Through this investment, we aim to support women and youth-led enterprises, as well as rural SMEs-areas where access to capital remains limited but the potential for impact is significant. This investment reflects our shared commitment to reducing inequalities by supporting entrepreneurs and businesses that are often excluded from traditional financing".

Shares of MAS Financial Services Limited was last trading in BSE at Rs. 307.80 as compared to the previous close of Rs. 306.20. The total number of shares traded during the day was 7616 in over 178 trades.

The stock hit an intraday high of Rs. 308.40 and intraday low of 301.00. The net turnover during the day was Rs. 2305833.00.

Source : Equity Bulls

Keywords

MASFinancialServices INE348L01012 NBFC MSMEFinancing NCDs FundRaising